Cool Method to earning money online from Bangladesh with Forex-4

The first thing to know about currency pairs is that they are always written in a

certain order. The first currency is called the base currency and the second is called

the quote currency.

Here is an example of a foreign exchange rate for the euro against the US dollar:

EUR/USD 1.3642 1.3644

The base currency is the euro and the quote currency is the dollar.

There are two prices given. The first is the bid price, which tells you how many units

of the quote currency (USD) you will get when you sell one unit of the base currency

(EUR). In this example you get 1.3642 dollars when you sell 1 euro.

The second price is the ask price, which tells you how many units of the quote

currency (USD) you have to pay to buy one unit of the base currency (EUR). In this

example you have to give 1.3644 US dollars to get 1 euro.

If you buy the EUR/USD pair you are buying euros and giving dollars. Buying is

called ‘going long’ or ‘taking a long position’.

If you sell EUR/USD you are selling euros and getting dollars. Selling is called

‘going short’ or ‘taking a short position’.

Spread And Pips

Look again at this example:

EUR/USD 1.3642 1.3644

If you were paying attention to the explanation of the bid and ask prices above, you

probably realized that if you first buy and then sell again with no change in these

prices, you lose $0.0002 (0.02 of a cent) on each dollar that you trade. This is called

the spread and it is how the brokers make their money.

The spread is measured in pips. Later, you will also see how to measure your profits

in pips. Why do we need to think in pips? The reason is simple. In the foreign

exchange market there is not a common currency in which to express values. The US

dollar may be the most frequently traded currency but it is not involved in all trades.

If you are trading cross rates, i.e. two other currencies such as EUR/GBP or any other

combination that does not involve USD, it would not make any sense at all to express

your gains and losses in terms of US dollars. Instead, we need something that is a

small percentage of the value of whatever currencies we are dealing with. We call it a

pip: percentage in point (or some say, price interest point).

One pip is the smallest part of a unit that is recorded in the price. Commonly a price

is quoted to 4 decimal places so 1 pip is 0.0001 units of the quote currency. Some

brokers are now quoting 5 places, and the Japanese yen is usually quoted to just 2

places, but for our EUR/USD example we will stay with 1 pip = 0.0001.

Here the bid price is 1.3642 and the ask price is 1.3644. So the spread, the difference

between them, is 0.0002 or 2 pips. Since the quote currency is US dollars, the pip

value in this example is US $0.0001 and the spread is US $0.0002.

$0.0002 may not seem much but in forex trading you will use leverage to deal in lots

which could be $10,000 or even $100,000 each. The spread would be $2 per lot in the

first case or $20 in the second. That cuts into your profits. So you do need to take the

spread into account when trading.

Always remember that the price must change in your favor by more than the amount

of the spread before you will make a profit.

34th BCS circular published

The Bangladesh Public Service Commission (PSC) on Thursday published the 34th Bangladesh Civil Service (BCS) examination circular to fill some 2,050 vacant posts of different cadres.

On Thursday afternoon, the PSC issued the circular on its website (http://www.bpsc.gov.bd) or you can download it from here.

According to the circular, intending candidates will be able to fill up form thorough online from 10 am on February 18 till 6 pm on March 19.

The aspirants can submit the filled-up application forms by 6 pm on March 19 and the fees till 6 pm on March 22.

A total of 442 eligible candidates, including 200 in administrative cadre and 80 in police, will be recruited from the general category through the 34th BCS exams.

Besides, 487 candidates will be recruited from the professional and technical categories, while 54 for the government-run teachers training colleges and 1069 for government colleges under general education category.

Download34th BCS Circular

Website:-

www.bpsc.gov.bd

Notice about postponed candidates of 33rd BCS

 Download Notice (PDF file) about postponed candidates of 33rd BCS



Published Date:-
2014-01-16 15:06:00

Cool Method to earning money online from Bangladesh with Forex-3

Trading Basics

Making Sense of Quotes and Pairs

When you see a forex price quote, it will always involve two currencies. That is because all currency transactions are exchanges: you are buying one currency and selling another at the same time.

In theory you could trade any two currencies of the world but most trading involves the currencies of the larger financial powers. This does not necessarily mean the biggest or most politically powerful countries. Switzerland is only a small country but it is a major player in the financial markets because of the global importance of the Swiss banks.

There are 6 major forex pairs which together account for 90% of the funds traded on the forex markets. These are:

1)EUR/USD:

The Euro and US dollar

2) GBP/USD:

The British pound and US dollar

3) USD/JPY:

The US dollar and Japanese yen

4) USD/CHF:

The US dollar and Swiss franc

5) AUD/USD:

The Australian dollar and US dollar

6) USD/CAD:

The US dollar and Canadian dollar

The US dollar is involved in 85% of forex trades and therefore it is in all of the major pairs.

Pairs that do not involve USD, such as EUR/GBP, are called cross rates.

The Best Pair for Beginners

The best currency pair for most beginners to trade is EUR/USD. There are two reasons for choosing this pair:

1. It is the most commonly traded pair so liquidity is high and the spread (your cost) is generally low.

2. There is sufficient information available about both currencies. Brokers will supply full charts and it is easy to access financial news and alerts. The second most traded pair is GBP/USD.

You may have access to a particular system that works with another pair. That is fine, but tries to stay with only one pair when you are starting out. Do not follow a system that involves trading a lot of different currencies. It is too difficult to keep on top of all of the prices, trends and news.

To be Continue…

Cool Method to earning money online from Bangladesh with Forex-2

 Why  Forex Trading for Bangladeshi ?

 Forex is now new and popular concept to making money online for Bangladeshi. Forex trading is better because it is not related to our currency or economical condition. Forex trading has been around for over 30 years but until the increase of the internet it was almost entirely in the hands of banks and other institutions with large investment funds. These days ordinary people can get involved although the financial institutions are still the major players. Around US $4 trillion changes hands every day on the currency trading markets.

You will understand that only a small part of this belongs to ordinary people like you and me.

To get started you will need a high speed internet connection, a good system or the time to learn and develop your own system, and some money to invest.

You do not necessarily need a lot of money. Brokers now offer mini forex trading accounts and even micro forex trading accounts which you can open with just a couple hundred dollars. However, it is better to have more, even if you do not put it all into the account in the beginning. Forex trading is risky and if you only have a couple hundred dollars, you probably should be doing something safer with it.

But assuming that you have the funds and you have decided that you want to make money with some kind of financial trading, let's take a look at why this could be a better option for you than stock or share market trading.

1. No commissions and no fees:-

 If you have experience of the stock market you will know how your profits can be eaten away by brokers, exchange and even government fees. The global nature of the forex market means that you do not have to pay any of these. Brokers make their money through the spread which is the difference between the bid and ask prices of a currency.

2. No fixed lot size:-

In commodity futures markets, the size of a lot or contract is set by the exchange and you cannot buy or sell less than one lot. But in spot forex trading you can theoretically set your own lot size. Most brokers have their own standard sizes but you can shop around and look for a broker who offers small or fractional lots.

3. A 24 hour market, five days a week:-

 For the whole of the global business week, the forex market never sleeps. This is great if you need to trade outside of normal business hours. You can work at your day job from 9 to 5 and trade currencies in the evenings. Or you can start whenever you get up in the morning even if it is 5 a.m.

4. High leverage:-

Forex brokers may offer up to 200 times your margin deposit in leverage, although 100 times is more common. This means that you have the chance to make a lot of money from only a small deposited fund. You would only need $100 or even $50 to control $10,000 dollars in a trade. As long as you have good risk management and remember that high leverage also means high risk, this can open up the possibility of a high return on your investment.

5. A massive market with high liquidity:-

The forex market is so huge that even the banks, big as they are, have limited influence. Insider trading is not an issue. And high liquidity means plenty of money Forex Trading in the markets so that you are never stuck unable to close a trade. You can even set software to close your position for you at a certain level of loss or profit.

6. Free tools and information from your broker:-

Brokers are in strong competition with each other to attract retail traders so they are offering more and more features. We will look at how to choose your broker in a later section. They will offer you a demo account where you can practice your trading, sharpen your skills and try out or even develop your own system before you start to use real money. They will also provide the charts that you need to identify trends, and give you access to breaking forex news, all for free.

7. Low start up costs:-

A good modern computer with a high speed internet connection is all that is needed to begin trading currencies. If you want to use a robot for your trading you can find one for $100 to $200. Plenty of information on trading currencies including advice on systems is available for free online.

8. You are in control:-

As a forex trader you will be in full control of your investment. You can access your account through your broker’s software platform and make the trades in real time yourself.

You also have control over the currencies that you buy and sell. You are not limited to dealing in your own country's currency. This means that if your national economy is in a very unpredictable state you can switch to trading two other currencies that are more stable.

So there are 8 good reasons to choose forex over other forms of financial trading. Now let’s move on to the basic information that you need to be familiar with so that you can start trading.

Continuing…..